Midland and JOGMEC Discovered More Rare Earth Enriched Zones on Ytterby 2 and 3 South of Strange Lake
MONTREAL, QUEBEC -- (Marketwire) -- 11/16/10 -- Midland Exploration Inc. ('Midland') (TSX VENTURE: MD) is pleased to announce the discovery of new significant rare earth elements ('REE') enriched zones, in partnership with Japan Oil, Gas and Metals National Corporation ('JOGMEC'), following the release of new assays results on Ytterby 2 and Ytterby 3 properties located respectively 65 km and 100 km south of the Strange Lake - B-Zone REE project area.
Coming from all 4 properties hold by Midland, 112 new assay results were added to the 470 previously released. On Ytterby 3, these new assays bring to 63, from 53, the number of new mineralized prospect areas with more than 1.0% total rare earth oxides plus yttrium ('TREO+Y2O3'). The results vary from 1.03% to 7.94% with a 2.72% average TREO+Y2O3. From the new results, two new REE enriched zones were discovered. They are the Christophe and Cube zones with up to 2.74% and 2.13% TREO+Y2O3 respectively. Eleven grab samples from the Cube zones returned an average of 1.16% TREO+Y2O3 that were collected discontinuously over a 150 by 300 metres surface area. There again, REE enrichment were found in iron oxide rich pods and pegmatites-aplites dykes hosted in an alkaline granite.
On Ytterby 2, the new assays bring to 29, from 19, the number of new mineralized prospect areas with TREO+Y2O3 values varying from 0.3% to 18.0%. The heavy rare earth oxides plus yttrium content ('HREO+Y2O3') represented 1.43% to 83.7% HREO+Y2O3 of the TREO+Y2O3. The majority of the new elevated assays come from the Shark mineralized zone which returned values up to 2.94% TREO+Y2O3. This new mineralized zone is characterized by iron oxides enriched pods either in alkaline granite or pegmatites-aplites dykes as observed on Ytterby 3. This bring to 4 the number of rare earth enriched mineral assemblages observed in pegmatites and pods on Ytterby 2 witnessing a possible zoning of a common magmatic chamber on the property.
On Ytterby 1, due to the lack of outcrop, a total of 81 till samples were collected with the objective to find possible buried REO bearing alkaline granites. The fine fraction of the tills were separated and sent to Activation Laboratory of Ancaster, Ontario for analysis. The results are pending. The Ytterby 1 property is marked by extensive strong unsourced yttrium, lanthanum and beryllium lake bottom sediment anomalies combined with uranium (eU) and thorium (eTh) airborne radiometric anomalies. All these indications point to the presence of systems similar in nature to the B-Zone and the Strange Lake REE deposits.
Data interpretation of the airborne and ground magnetic and radiometric surveys completed on Ytterby 2 and 3 is currently in progress to better evaluate the best REE targets identified. A second phase program of geological mapping and geochemical sampling that will be followed up by diamond drilling is currently in planning.
Plan views and table showing Midland's new REE discoveries can be consulted by the following links:
To view Figure 1 - Ytterby Project Regional Location Map, please visit the following link:
http://media3.marketwire.com/docs/Figure1-Oct19.pdf
To view Figure 2 - Ytterby 3 Grab Sampling Results on Thorium Radiometric Map, please visit the following link: http://media3.marketwire.com/docs/Figure2-nov8.pdf
To view Figure 3 - Ytterby 2 Grab Sampling Results on Thorium Radiometric Map, please visit the following link: http://media3.marketwire.com/docs/Figure3-nov8.pdf
To view Table 1 - Selected Grab Sampling Results on Ytterby Project, please visit the following link: http://media3.marketwire.com/docs/Tableau_Midland_1116.pdf
Quality Control (QA/QC)
The Ytterby exploration program is supervised by Mr. Robert Banville, Eng., senior geologist for Midland Exploration and a Qualified Person as defined under National Instrument 43-101. Analyses were performed by Activation Laboratory of Ancaster, Ontario which has a strict internal QA/QC program which includes mineralized standards, blanks and duplicate samples.
Terms of the Exploration Agreement
JOGMEC has the option to acquire 50% interest in the Ytterby project prior to March 31, 2012 by funding $2,500,000 in exploration expenditures including $1,000,000 in work expenditures during the first year. Midland will be operator as long as it will hold an interest equal to or higher than 50% in the project. JOGMEC also has the right to transfer its interests in the Ytterby project, in whole or in part, to one or more Japanese companies or a consortium of Japanese companies.
About JOGMEC
JOGMEC was established in February, 2004, following the integration of the former Japan National Oil Corporation (JNOC) and Metal Mining Agency of Japan (MMAJ). It is a corporation under the Japanese Ministry of Economy, Trade and Industry (METI), with a mandate of investing in developing minerals projects worldwide to help secure a stable supply of natural resources for Japanese industry.
About Midland
Midland targets the excellent mineral potential and the favourable investment climate of Quebec to make the discovery of new world-class deposits of gold, base metals and REE. Midland is proud to count on reputable partners such as Japan Oil, Gas and Metals National Corporation, Agnico-Eagle Mines Limited, Osisko Mining Corporation, North American Palladium Limited, Zincore Metals Inc. and SOQUEM Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Midland is currently evaluating new opportunities and other projects in order to increase the portfolio of the Company.
This press release was prepared by Robert Banville, Eng., senior geologist for Midland Exploration and Qualified Person as defined by NI 43-101. For further information, please consult Midland's website: www.midlandexploration.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Midland's periodic reports including the annual report or in the filings made by Midland from time to time with securities regulatory authorities.
Contacts:
Midland Exploration Inc.
Gino Roger
President and Chief Executive Officer
450-420-5977
450-420-5978 (FAX)
info@midlandexploration.com
www.midlandexploration.com